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PROFESSIONAL FOOTBALL LEAGUE (MAURITIUS) LIMITED

STATEMENT OF FINANCIAL POSITION - 31 DECEMBER 2015

STATEMENT OF COMPREHENSIVE INCOME - PERIOD FROM 11 AUGUST 2014 TO 31 DECEMBER 2015


Rs

Rs

ASSETS
Non-current asset
Property, plant and equipment

1,642,661

Total non-current asset

1,642,661

Current assets
Other receivables

147,356

Total current assets

147,356

Total assets

1,790,017

Equity and Liabilities

Revenue

27,616,393

Administrative expenses *

(84,342,849)

Loss before taxation

(56,726,456)

Taxation

Loss for the period

(56,726,456)

Other comprehensive income for the period

Total comprehensive income for the period

(56,726,456)

Capital and reserves


Stated capital

1,000

Accumulated loss

(56,726,456)

Net deficit

(56,725,456)

* Administrative expenses comprise mainly the following expenses:

Liabilities

Club payments

53,475,869

Non-current liability

Football match expenses

9,796,440

Shareholders loan

54,732,752

Mauritius Football Club expenses

6,080,129

Total non-current liability

54,732,752

Broadcasting expenses

1,094,500

Legal and professional fees

1,349,150

Football equipment

1,423,509

Medical expenses

1,020,010

Current liability
Bank overdraft

3,782,721

Total current liability

3,782,721

Total liabilities

58,515,473

Total equity and liabilities

1,790,017

These financial statements have been approved on 01st August


2016 and signed by:

______________________________
Georges Chung Tick Kan
Director
1. General Information
The Company was incorporated in Republic of Mauritius as a private company limited by shares on 11 August 2014. The principal activity of the Company is to promote and manage the football league in the Republic of Mauritius and its registered office is at 11, Corner Avenue Des Manguiers/Capucines, Quatre Bornes, Republic of Mauritius. The financial statement has been prepared in accordance with International Financial Reporting Standards
( ""IFRS "" )and the Mauritius Companies Act 2001 for the period from 11 August 2014 (date of incorporation) to 31 December 2015. During the period under review, the Company had outsourced the accounting services to
KPMG Mauritius, a third party.
The above statements of financial position and comprehensive income have been extracted from the audited financial statements for the period from 11 August 2014 to 31 December 2015. Notes to these financial statements,
which are an integral part of the audited financial statements, can be obtained upon request from the Company.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PROFESSIONAL FOOTBALL LEAGUE (MAURITIUS) LIMITED

1. The accompanying summarised financial statements have been derived from the financial statements of Professional Football League (Mauritius) Limited for the period from 11 August 2014 to 31 December 2015. These summarised financial statements are the responsibility of the director. Our responsibility is to express an independent opinion on whether these summarised financial statements are consistent, in all material aspects, with the financial
statements from which they were derived.

3. In our opinion, the accompanying summarised financial statements are consistent, in all
material respects, with the financial statements from which they were derived.

2. We have audited the financial statements of the Company for the period from 11 August 2014 to 31 December 2015, from which these summarised financial statements were derived, in accordance with International Standards
on Auditing. In our report dated 01 August 2016, we expressed an unqualified opinion on the financial statements from which the summarised financial statements were derived.

4. For a better understanding of the Companys financial position and the results of its
operations for the period and of the scope of our audit, the summarised financial statements
should be read in conjunction with the financial statements, from which the summarised
financial statements were derived and our audit report thereon.

The independent auditors report on the complete set of financial statements reads as follows:
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF PROFESSIONAL FOOTBALL LEAGUE (MAURITIUS) LIMITED
This report is made solely to the Companys members, as a body in accordance with Section 205 of the Mauritius Companies Act 2001. Our audit work has been undertaken so that we might state to the Companys members those
matters we are required to state in an auditors report and for no other purpose. To the fullest extent permitted by the law, we do not accept or assume responsibility to anyone other than the Companys member as a body, for our
audit work, for this report or for the opinion we have formed.

Opinion
In our opinion, the financial statements on pages 6 to 28 give a true and fair view of the
financial position of the Company as at 31 December 2015 and of its financial performance
and its cash flows for the period then ended in accordance with International Financial
Reporting Standards and comply with the Mauritius Companies Act 2001.

Report on the financial statements


We have audited the financial statements of Professional Football League (Mauritius) Limited (the Company) on pages 6 to 28 which comprise the statement of financial position at 31 December 2015 and the statement of profit
or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the period from 11 August 2014 (date of incorporation) to 31 December 2015 and a summary of significant accounting
policies and other explanatory information.
Managements Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with International Financial Reporting Standards and in compliance with the requirements of the Mauritius Companies Act 2001 and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Emphasis of Matter
Without qualifying our opinion, we draw attention to note 14 in the financial statements
which indicates that the Company has made a loss for the period from 11 August 2014 (date
of incorporation) to 31 December 2015 of MUR 56,726,456 and as of that date, its total
liabilities exceeded its total assets by MUR 56,725,456. The shareholder has confirmed its
intention to provide continuing financial support to the Company to enable it to meet its
liabilities as they fall due. Consequently, the financial statements have been prepared on a
going concern basis. We consider that appropriate disclosures have been made.
Report on Other Legal and Regulatory Requirements
Mauritius Companies Act 2001

Auditors Responsibility
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors judgement, including the assessment of the risks
of material misstatement of the financial statements, whether due to fraud or error. In making those risks assessments, the auditors consider internal control relevant to the Companys preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

We have no relationship with or interests in the Company other than in our capacity as
auditors.
We have obtained all the information and explanations we have required.
In our opinion, proper accounting records have been kept by the Company as far as it
appears from our examination of those records.

NJC ASSOCIATES
5th Floor, Orbis Court
Royal Road St Jean
Quatre Bornes
Republic of Mauritius

Date: 01st August 2016

Chelven Chengabroyan
Licenced by FRC